News
| August 26, 2014

Aquarion Group Establishes Subsidiary In Kazan, Republic Of Tatarstan, Russia

Baar, Switzerland /PRNewswire/ - Aquarion Group (Aquarion AG), a leading provider of advanced water systems, solutions and technologies for the oil & gas industry, the energy sector and other process industries, announces the establishment of Aquarion Russia in Kazan, the Republic of Tatarstan.

Aquarion Russia will focus on providing advanced water and wastewater treatment solutions to industrial customers in Russiaand the Commonwealth of Independent States (CIS), with particular emphasis on the oil & gas market, both upstream (on shore and off shore) and downstream.

One of Russia's most populous cities, Kazan is the capital of one of the most advanced and largest industrial regions ofRussia, the Republic of Tatarstan. Tatarstan is one of Russia's oldest oil producing regions, whose economy is dominated by the fuel, petrochemical and chemical industries. Major Eastern European players in upstream and downstream oil & gas are based in the region. Ranked by Forbes and Ernst &Young as Russia's best region for doing business, Tatarstan represents an excellent base from which to access the entire Russian market and cover the neighboring countries of Kazakhstan, Belarus, the Baltics, and the Caucasus countries Georgia, Armenia and Azerbaijan.

One of the major shareholders of Aquarion Group is the Green Gateway Fund, which has a sub-sovereign wealth fund of the Republic of Tatarstan as an anchor investor.

"The establishment of Aquarion Russia is an important strategic development for Aquarion Group, enabling us to deliver our leading-edge solutions to customers in Russia and the CIS and creating a strong local presence to address the water treatment needs of the region's expanding oil & gas industry. It also expands our ability to serve an important and growing market for water and wastewater solutions and technologies," said Karl Michael Millauer, Chief Executive Officer of Aquarion Group.

This development follows the acquisition in July of the highly respected German water treatment company Hager + Elsaesser, which has operations in Germany, the UK and Southeast Asia. It underscores Aquarion Group's success in becoming a major player in the global water treatment business. Other Aquarion Group companies include Aquarion Water GmbH in Germany, GEMWATER s.r.l. in Italy and H2Oil & Gas Ltd in Scotland.

Aquarion Group's solutions address some of the most critical water and wastewater requirements such as produced water, seawater for injection, process and potable water, cooling water, boiler feed water, spent caustic treatment and refinery wastewater. Its advanced technologies include REDft® UF, an innovative membrane water treatment system that features reduced footprint membrane technology; ZLD-ECO, an advanced hybrid zero liquid discharge system that further optimizes the ZLD process; and TOVEKO® continuous gravity fed sand filters.

About the Green Gateway Fund
The aim of the Green Gateway Fund (http://www.wermutham.com/fund-strategies/private-investments/green-gateway-fund.aspx) is to invest in international best-in-class energy and resource efficiency growth companies, with an additional unique selling point of actively helping portfolio companies to access the fast-growing Russian and CIS markets through the gateway of Tatarstan. The fund adviser Wermuth Asset Management has more than a decade of successful experience of investing and doing business in the former Soviet Union. Since its inception GGF closed four deals by investing in The Mobility House, a fast growing e-mobility solutions provider, Aquarion Group, a leading provider of advanced water solutions to the oil & gas industry, the energy sector and other process industries, Primekss, an advanced concrete specialist, and OTI Greentech, a leading provider of sustainable cleantech solutions.

About Wermuth Asset Management
Wermuth Asset Management GmbH (WAM), founded in the late 1990s, is a German family investment firm that acts as an adviser on alternative and sustainable investments in Europe. WAM headquarters are located in Mainz, Germany with a branch in Moscow. WAM (www.wermutham.com) is the exclusive investment adviser to several funds and SPVs whose investors include high net worth individuals, family offices, funds of funds, banks, pension funds, endowments and sovereign wealth funds. WAM has attracted over $1bn into the Russian economy since it began operating in the region.

About Aquarion Group (Aquarion AG)
Headquartered in Switzerland, Aquarion (www.aquarion-group.com) is a total enhanced EPC solution provider for a wide range of water treatments for various industries (pure water, waste water and recycling /reuse), integrating the most advanced technologies into its offered solutions.